Samsung Asset Management in Hong Kong (SAMHK), the local subsidiary of the Samsung investment division, has announced the launch of an exchange-traded fund that will focus on blockchain. The ETF will focus on companies operating in the blockchain sector.
SAMHK set to launch a blockchain ETF
The company plans to launch the Samsung Blockchain Technologies ETF on the Hong Kong Stock Exchange. The ETF will start trading on June 23, according to the announcement issued on Thursday.
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The goals of this ETF involve achieving long-term capital growth through investment in company stocks. The companies targeted by the ETF are those actively involved in developing and adopting blockchain technologies. Some of the targeted companies include those offering research and development services in the blockchain sector, data providers, industry investment companies, and more.
These ETFs will be managed by the portfolio management team at Samsung Asset Management. The team is tasked with selecting firms with a small market cap and low trading volumes.
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The Samsung Blockchain Technologies ETFs is a subsidiary fund under the Samsung ETF Trust. The latter is the umbrella unit trust created under Hong Kong law. The announcement added that the SAMHK classified the investment product as the “first-ever global blockchain-related ETF” in Asia.
Carmen Cheung, the head of ETF and passive investment at SAMHK, noted that “The demand of data processing and storage will expedite with the evolution of our digital world. Blockchain technologies will further be widely used for different businesses to improve data efficiency, security and shorten the accessibility time. We see this as one of the future trends on digital transformation.”
Samsung Asset Management pushes for crypto and blockchain ETFs
Samsung Asset Management is ranked as one of the first companies in South Korea that surpassed $79 billion in assets under management in 2011. The company has been expanding its global presence, and recently, it purchased a 20% equity stake in Amplify Holding Company, becoming the second-largest shareholder in the firm.
The Samsung Group has also shown commitment to the blockchain and cryptocurrency sector in recent years. The group has supported cryptocurrency transactions on its Samsung smartphones, allowing it to compete with leading cryptocurrency wallets.
The tech giant has also shown interest in non-fungible tokens (NFTs). The company is planning to launch a smart TV series that have integrated an NFT platform. The TV series was launched in January this year.
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